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Blockchain sue cases for the gambling industry. How Blockchain can make gambling more transparent and provably fair.
2. Gambling
Use cases
Traditionally players have no way of checking
the fairness of any draw or result. Rely solely
on audits of trusted 3rd parties in
fragmented regulatory environments.
● Balkanized regulation
● Fairness of results/draw
● Transparency of payouts
● Deduction of 3rd party charges
from winnings
● Lack of availability of payment
methods in some territories
3.
4. ● Eliminate player deposit risk
smart contract as escrow
funds never leave wallet before end of game.
● Transparency & gameplay fairness
through RNG and provable fair algorithms
● Reduce player costs
11. Even if RNG not fully decentralised,
blockchain can allow players to review the RNG process by
which a particular card was drawn or dice rolled,
-> verify fairness
12. Provably fair
Algorithms
● Service operator publish a
method for verifying each
transaction in the game.
● They use open source
algorithms for random seed
generation, hashing, and for
the random number generator
13. Regulatory
Opportunities
● Transparency
access to the same information as the
organisations they regulate.
● Real Time Auditing
Digitised transactions can be audited in
real time, instead of, say, annually.
● Traceability
It will become easier to trace transactions.
14. Regulatory
Challenges
● Which law applies?
in a P2P network of computers?
● Testing
Regulators will need to establish new
protocols and standards for testing
blockchain-based gambling activities.
● Anonymity
AML/KYC Identity
● Void bets
Regulators such as the Gambling
Commission can have powers to void
unfair bets. How with Smart Contracts?
15.
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18.
19. Claim to use provably fair system using state channels containing pre-committed partial RNG seeds
provided separately by the player and the operator.
Partial seeds are committed to the blockchain at the start of the gaming session.
During gaming a State channel with the added ability to verify a progressive reveal scheme by both parties,
advancing a deterministic (“fated”) but unpredictable sequence of random numbers
23. Quanta
Online Lottery
first implementation of a fully automatic and
trustless Decentralized Autonomous Lottery Game
using smart contracts on the blockchain (see white
paper draft)
White Paper
http://www.quanta.im/Quantalotterywhitepaperdra
ftv0.4.3.pdf